World's top 20 economic superpowers by 2030

World's top 20 economic superpowers by 2030

The world economy is projected to grow at an average rate of just over 3 per cent per annum from 2011 to 2050, doubling in size by 2032 and nearly doubling again by 2050, states a PricewaterhouseCoopers report.

According to the report, 'World in 2050 The BRICs and Beyond: Prospects, Challenges and Opportunities', the global financial crisis has accelerated the shift of the economic centre of gravity and China is expected to surpass the US to become the largest economy in theworld by 2050.

Emerging economies tend to grow at 4% per annum or more, while advanced economies grow at around 2% or less – we will continue to live in a two-speed world economy for some decades to come as a catch up process continues, says the report.

World's top 20 economic superpowers by 2030

(GDP at PPPs is a better indicator of average living standards or volumes of outputs or inputs, because it corrects for price differences across countries at different levels of development. In general, price levels are significantly lower in emerging economies so looking at GDP at PPPs narrows the income gap with the advanced economiescompared to using market exchange rates, states PwC).

World's top 20 economic superpowers by 2030

Image: St Paul's cathedral and the financial district are seen at dusk in an aerial photograph from The View gallery at the Shard, western Europe's tallest building, in London.Photographs: Andrew Winning/Reuters.

World's top 20 economic superpowers by 2030

Image: French climber Alain Robert, a rock climber who has become famous for climbing known buildings worldwide, climbs the 215m (705 feet) high, 50 floors Bakrie Tower building in Jakarta.Photographs: Supri/Reuters,